The Fed Has Created Stagnant Wages In An Age of Plenty

For the vast majority of people, wages have been stagnant since the 1970’s. What happened in 1971? Well, that was the year that the U.S. dropped what was left of the gold standard. The major beneficiaries of that fateful decision have been the politically-connected and crony 1%.

Original Youtube video here.

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Rob Sommars2Bit Rasputinrecniabsalboeingdriver29Mike Walgenbach Recent comment authors
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Rob Sommars
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Land of the free home of the brave. Lol.

Rob Sommars
Guest

First white horse rider is full of shit

Rob Sommars
Guest

More slaves more bricks

Rob Sommars
Guest

Thr govt taxes us to death after the fed sucks us dry of our labor and life

Rob Sommars
Guest

Let my people go!!!!!!!!!!!

2Bit Rasputin
Guest

Bullshit from Dr Paul. It's not a socialized Federal Reserve Sytem, it's a Privatized Federal Reserve System. Hasn't he read "Web of Debt" by Ellen Brown??? He should, if he want to talk about the Fed and "Monetary Policy". Dr. Paul and his Dr. Son lash out at Bernie Sanders and "Socialism" because they like their Socialized Government Healthcare and Pensions for Life!!!, and they are happy with the Capitalism Death Private Health Insurance system that is bankrupting all but the richest American Families. I like Dr. Paul, but he's got his M.D. hat on when he says we have… Read more »

recniabsal
Guest

The way a dollar is backed has nothing to do with supply and demand, or the way profits are divided between lazy capitalists and the hard working proletariat that actually does the work. Communism is the ultimate form of libertarianism for the proletariat. Austrian libertarianism benefits he or she who serves the capitalist the most, and the capitalist himself.

boeingdriver29
Guest

Watch the “Four Horseman “ if you want an accurate appraisal of neoclassical economics.

boeingdriver29
Guest

Whilst I agree with most of what Ron says the change he advocates will NEVER happen. The only way to fix it is to destroy the power of the banking cartel and good luck with that one.

Mike Walgenbach
Guest

What's the source of the chart? Thanks.

Sam Sticka
Guest

People are unhappy and they don't even know why. I'll bet most have never even heard of the gold standard.

iccabobb
Guest

Everyone who works should be prospering ,,, the boiling frog sindrome , slowly close the walls in on everyone , but put up Ronald McDonald wall paper so you think it's fun ,,,, then you die just like good cattle to make room for the fresh meat.

MaxL "Chaz" LaxM
Guest

The same chart can be seen here along with another plotting average wages for bottom 90% vs top 10% for each year.
https://www.zerohedge.com/news/2015-02-20/why-1-hates-gold-standard

iccabobb
Guest

Didn't john mcains brainwashed daughter.say today that America was always great? I wonder how japan feels about that statement, Vietnam. ,Lybia ,Palestine, Iraq, Afghanistan , Cuba,,,,,, plus at what moment between 2008 and 2010 was America even mediocre? Oh ya America was definatly great when they started kidnapping Africans to bring them to the homeland to serve their master. Was America great when it went to the moon? How about lance Armstrong ,, great American ? Is America great because it's government spies on it's own people not for security reasons but to maintain the upper hand on the tax… Read more »

iccabobb
Guest

I said this before and I'll
Say it again capitalism is over exploited to the point that we are socially in a state of imbalance. The same thing happens when socialism runs the show. , eventually all these silly systems get abused . I propose something new, fresh , ,,, I propose a reset . Eliminate the banks. , restructure the currency system , confiscate all corporate assets, redistribute to those who take care of themselves and act gracefully and responsibly as humans ( but have fun )

melodicdreamer72
Guest

This should be an age of plenty when you look at the productivity level increase over the same time. Not much from that productivity increase has fallen into the hands of middle-class America. It would be one thing if our productivity increase was funneled into creating future wealth, but our debts and unfunded liabilities are really unfathomable.

Repeal 16
Guest

Doctors would make $50 an hour in a free market.

LeAn Thom
Guest

Thank who or whatever you believe for Ron and Rand Paul. We would be in so much more trouble without them!

Winken Smile
Guest

My work (corporation) has been giving 3 raises a year to hourly, 1 dollar a year cost of living raise, and a 4% bonus plan as long as we meet our productivity.

Hannilux
Guest

It's you thats the problem. It's your party. Shame on you

Hannilux
Guest

You guys have no clue what socialism is! Government has to regain control and put a break on your greedy asses. Wake up

Oskar636
Guest

Jews run the FED.

Michael Samuel
Guest

I have my own version of a basic income payment and other recommendations to eradicare poverty worldwide. See my video – poverty eradication worldwide/michael samuel – on youtube. How will the government pay its unemployed? The same way it gets money to pay its employees. The rich isn't responsible for the unemployed – government is. Government must take up the mantle to ensure that all its citizens can have an income to always meet the basic cost of living expenses ( housing, food, etc ).

Hank
Guest
critical thinking
Guest

Make America fee again

critical thinking
Guest

Make America free again

ab3defC8ijkmnmopqrxt
Guest

I love ya Dr. Paul but The FED is only 'socialism for the 1%' so please stop falsely equating huge bailouts for Wall St. with 'Socialism' as I know you're smarter than this.

Shan Ri Ha
Guest

This is where Dr Paul gets it wrong he's so hung up with the term "Socialism" but he's not describing Socialism, he's describing tyranny brought about by rampant Capitalism. The graph showed the rich getting ridiculously richer how that equates to Socialism is beyond me. The Oligarchy must be stopped and wealth redirected with a new deal for the people fixing infrastructure etc in the U.S providing jobs etc and doesn't mean more Gov. either. Not everyone can be rich, not everyone's talent is in this ordered system, for instance how much does a tracker get these days? Well depending… Read more »

John Harris
Guest

I mean I agree with him but the massive growth post World War 2 years I mean nobody else could produce anything it's just a fact carry on

Tyrone Koumoundouros
Guest

Minimum wage should be 30 dollars an hour.
Skilled labor must be 90 dollars an hour.
Eneough is enough with this economic slavery.

Tyrone Koumoundouros
Guest

No I don't want to stop people from being wealthy.
The rich have pulled up the ladder so the rest of us can not climb up with them.

Gary DeForve
Guest

he is truly a babbling ,(racist) moron. wow.

Berning Sandwiches
Guest

I'm not disagreeing with the opinion that we should go back on the gold standard, but you could also draw the same correlation between collective bargaining rights and income growth. In fact, if going off of the gold standard caused the income stagnation, that still doesn't account for the explosion in income growth between the 30s and 70s, but union participation does.

The God Emperor
Guest

Correlation causation fallacy.

What else happened then? Buckley V Valeo and First National Bank of Boston vs Bellotti. Money in politics got way worse with those.

There could be a chance both are the cause or more or something else entirely.

Robby D
Guest

Nope. Gold is the Dumbest fucking thing imaginable. If ya want a currency to be backed by something, you use something common. Not the gold that the shit on your fellow bitchslave bigots have hoarded. Gold is absurd. The U.$. doesn't even have any. We'd have to borrow to buy some. It's ludicrous!

round tabVlae
Guest

Dear Sir and Senator, I really have problems accessing the series to follow the chart you showed us. Would you kindly gently give me a link to download directly some links? It seems people are making it now very difficult to do it. If you reply wity a link for a download I would appreciate. Sincerely Silvio.,

DestroyerX61
Guest

Start naming names folks…

to vote them out office btw

Glen Romney
Guest

Bla bla bla! Grab a rifle or shut the fuck up! Do you really think these assholes listen to your whining?Fucking idiots!

automaton111
Guest

Cronyism is not a bug of capitalism. It is a guaranteed feature. It only exists because of capitalism, greed, and blind profit motive without care for anything else.

B Sim
Guest

1940-1971 income growth for workers was driven more by the new deal policies than the gold standard. Those were policies Dr. Paul is opposed too. The irony

First Last
Guest

Ron Paul is a corporate tool, it is the large corporations that created stagnant wages. Ron Paul, himself created stagnant wages by the laws he helped pass.

KELLI2L2
Guest

In 1971 (end of gold standard) the wealthy were taxed at a higher rate ~ weren't they… Did you forget that..?!

All these tax breaks they're now getting since Bush43 is the problem (good for them) not for the rest of the people…

Steve Pax
Guest

No content opinion masquerading as analysis—hallmark of demagogues.

Abel Culp
Guest

Government cannot tax deflation.

Mr626667
Guest

Slavery and Genocide are the founding principles of this country WITHOUT it America would not exist that's the real TRUTH.

Wim van de Sande
Guest

socialism aint the problem!
Its the one%stealing from the rest!
Socialism is social-ism!!! it means that every one gets to live eat and has a place to stay,like SOCIAL PEOPLE!!!
Wake up,the only reason that socialist nations fail,is the way they are FUCKED by the west/rest!

Jean
Guest

I would rather live in Cuba than in the US lower infant mortality higher life expectancy free education LGBT rights racial equality. Bit late to try and sort US out.

Green TwoStay
Guest

"So it's the fed? not good old American corporate greed?😣

educationcenter2000
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miopera40
Guest

A middle class 3bdr/2bath home in big cities runs over half a million, way to go